Strategic Management

Topic: Strategic Formulation

N.Chandru
Assistant professor
Department of Commerce
Dr. N.G.P. ARTS AND SCIENCE COLLEGE
COIMBATORE-641 048

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 Corporate mission

• What is a company mission statement?

• A mission statement isn’t simply stating your company’s desire to
be the best in your field or make the best product.
• Instead, it is a way of showing what makes your company stand
out and what makes its future so bright.
• Corporate mission need:
• Mission statements provide a clear goal for employees and can
improve their job performance.
• Great way to motivate employees to work towards a company's
long-term plans for growth.
• Employees can engage with a company's core values by reading
its mission statement and applying those ideas to their work.

Dr. NGPASC
COIMBATORE | INDIA
• Mission formulation:
• In formulating of mission, an organization must base on the four elements of mission
described by Campbell and Nash:
• purpose, strategy, values, and behavioral standards 
• Most mission statements cover the following major topics:
• Company product or service
• Market
• Technology
• Company objective
• Company philosophy
• Company self-concept
• Public image
• The mission statement should identify the forces that drive the
organization's strategic vision.
• The mission statement must reflect the values, beliefs, and philosophy of
operations of the organization.
• The mission statement should be achievable. It should be realistic enough
for organization members to buy into it.

Dr. NGPASC
COIMBATORE | INDIA
• The process of writing a mission statement can be
broken down into several distinct steps; these
include:
1.Establish the basic parameters
2.Collect and assemble possible ideas for inclusion
3.Determine the limits
4.Set the priorities of each statement
5.Carefully express each of the ideas
6.Add explanatory statements
7.Establish the document's appearance
8.Gain final approval

Dr. NGPASC
COIMBATORE | INDIA
 Corporate Objectives

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 Environmental Scanning

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